Less New, More Closed!
Inventory remains to move quickly with 2 days less on the market than last month and 52% faster than June of 2018. Only Twenty properties hit the market last month, 5 less than in May. SEVENTEEN Closed, three more than last month which was 14. So the inventory is becoming less and less month to month for 2019.
While the list to sales price dropped from 93% to 83% for this past month and average sales price dropped as well. The properties influencing those were 3 island properties, two under $350k for average list to sales price. BUT the big ticker for List to Sales Price for last month was the remaining portion of the Bahre estate in Alton. They were asking $7.9M and closed at $5.3M.
Notice the Gap...
There seems to be a gap in the market where the second highest sale was $1,615,000 and then a huge jump to $5.3M. Last month the gap was between $1,450,000 to $2,000,000. Currently there are 37 properties on the market for sale in the gap from $1.5M-$3M of which 6 are under contract.
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